Esker (PA:ALESK) saw strong growth in revenues in Q317, with 17% reported growth and 14% growth on an organic, constant currency basis. The recent e-integration acquisition is performing in line with expectations and management has reconfirmed its FY17 outlook for double-digit organic revenue growth. We leave our forecasts unchanged.
Esker has reported Q317 revenues of €18.0m (+17% y-o-y, +14% on an organic constant currency basis). This was slightly ahead of our €17.7m forecast, despite a €0.4m negative effect from the stronger euro versus the dollar (€/$ 1.18 in Q317 vs 1.12 in Q316). Revenues for the nine months to 30 September grew 10% y-o-y on an organic, constant currency basis. The recently acquired e-integration grew revenues 8% y-o-y to €0.9m, in line with management expectations.
To read the entire report Please click on the pdf File Below: